A judge overseeing a class action against engineering company UGL has agreed to extend a class closure order to give the parties a second chance to resolve the case in mediation, but not without expressing concerns that the order did not have the intended effect of encouraging settlement at the first sit-down.
An attempt by applicants in two franchisee class actions against 7-Eleven to limit communications between the convenience store giant and group members ahead of a hearing to approve a confidential settlement with ANZ, the bank that loaned money to the franchisees, unfairly delays approval of the settlement until next year, a court has heard.
The National Australia Bank has filed a lawsuit against its Singapore-based captive insurance unit and three syndicates of global insurance giant Lloyd’s seeking coverage for two consumer redress schemes related to the bank’s sale of interest rate hedging products and fixed rate tailored business loans.